Key Takeaways
- • James Maguire, founder and chairman emeritus of Philadelphia Consolidated Holding Company, and Sean Sweeney, director of 1251 Capital Group, spoke to Bowie State University students as part of a new risk management and insurance speaker series.
- • Sweeney said the industry has over 600,000 open insurance positions and a shortage of talent, which he described as the biggest problem in private equity.
- • Maguire has funded the Maguire Academy of Risk Management and Insurance at Bowie State, Gallaudet University and St. Joseph's University, along with a Maguire Scholars Program providing student scholarships.
- • The sessions covered career paths in insurance, risk management and private equity, with a focus on diversifying the talent pipeline.
Summary
James Maguire, founder and chairman emeritus of the Philadelphia Consolidated Holding Company, and Sean Sweeney, director of 1251 Capital Group, addressed students at Bowie State University as part of a new risk management and insurance speaker series. The speakers discussed their careers in financial services and the job opportunities available in risk management, insurance and private equity, according to a Bowie State University press release.
Maguire, a Philadelphia native, entered the insurance business in 1960 and formed the Philadelphia Insurance Companies in 1987. He took the company public in 1993 and merged it with Tokio Marine Group in 2008 for $4.7 billion. Through the Maguire Foundation, he has supported non-profit and educational institutions in Philadelphia and created the Maguire Academy of Risk Management and Insurance at Bowie State, Gallaudet University and St. Joseph's University to broaden diversity in the industry. He also supports a Maguire Scholars Program at Bowie State that provides scholarships. He received an honorary doctorate of humane letters from Bowie State at its May 2024 commencement.
Sweeney's 1251 Capital Group provides risk management and commercial insurance products to non-profit organizations, schools and other public entities. He told students there are plenty of jobs in the industry but not enough qualified people to fill them, citing more than 600,000 open positions in insurance. He also linked rising demand for hiring to climate change and an increase in catastrophic storms, and called for diversity across property and casualty and all lines of business as the industry grows.
Maguire urged students to have a clear vision and the preparation to act on it, saying passion is essential to success. Malik Hicks, a Bowie State junior majoring in communications and a Maguire Scholar, described the session as meaningful, saying the speakers covered current and future positions in insurance, risk management and private equity.
Maguire, a Philadelphia native, entered the insurance business in 1960 and formed the Philadelphia Insurance Companies in 1987. He took the company public in 1993 and merged it with Tokio Marine Group in 2008 for $4.7 billion. Through the Maguire Foundation, he has supported non-profit and educational institutions in Philadelphia and created the Maguire Academy of Risk Management and Insurance at Bowie State, Gallaudet University and St. Joseph's University to broaden diversity in the industry. He also supports a Maguire Scholars Program at Bowie State that provides scholarships. He received an honorary doctorate of humane letters from Bowie State at its May 2024 commencement.
Sweeney's 1251 Capital Group provides risk management and commercial insurance products to non-profit organizations, schools and other public entities. He told students there are plenty of jobs in the industry but not enough qualified people to fill them, citing more than 600,000 open positions in insurance. He also linked rising demand for hiring to climate change and an increase in catastrophic storms, and called for diversity across property and casualty and all lines of business as the industry grows.
Maguire urged students to have a clear vision and the preparation to act on it, saying passion is essential to success. Malik Hicks, a Bowie State junior majoring in communications and a Maguire Scholar, described the session as meaningful, saying the speakers covered current and future positions in insurance, risk management and private equity.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.